Essay
The recent average starting salary for new college graduates in computer information systems is $47 500. Assume that salaries are normally distributed, with a standard deviation of $4500.
a. What is the probability of a new graduate receiving a salary between $45 000 and $50 000?
b. What is the probability of a new graduate getting a starting salary in excess of $55 000?
c. What percentage of starting salaries are no more than $42 250?
d. What is the cut-off for the bottom 5% of the salaries?
e. What is the cut-off for the top 3% of the salaries?
Correct Answer:
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a. 0.4246.
b. 0.0475...View Answer
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Correct Answer:
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b. 0.0475...
View Answer
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